Apple's once mocked plan to launch a chain of retail stores has scored huge dividends for the PC, smartphone and media player maker. Launched just over ten years ago, the Apple retail outlets have become a large part of Apple's overall revenue as Apple fans and tech consumers in general enjoy checking out and using new iPads, iPhones, iPods and Mac PCs. Now Apple is making plans to open up its largest ever Apple store and it's no surprise that it will be located in a prime section of New York City.

According to a New York Post story, Apple has made a deal with the people in charge of New York City's Grand Central Station for a ten year lease to build a new Apple store. The plan, which is still awaiting final approval from the board of directors of the city's Metro Transit Authority, will give Apple 23,000 square feet to work with in one of the country's most well known and busiest travel locations.

The story states that Apple will pay a whopping $800,000 a year for the ten year deal. Assuming the lease is extended, Apple will pay over $1 million a year after the initial lease is completed. The MTA claims that it is looking to bring in a minimum of $5 million in profits with the new Apple Store lease. There's no word yet when the store itself will open in its newest location.